Contract Of Usufruct.docx

CONTRACT OF USUFRUCT KNOW ALL MEN BY THESE PRESENTS:

That this Contract of Usufruct made and entered into by and between:

PAQUITO M. MADALINA, Brgy. Chairman of Brgy. Camonoan, Dagami, Leyte and concurrent ViceChairman of the Camono-an ARC Farmers Association, with residential address at Brgy. Camonoan, Dagami, Leyte , hereinafter called the “OWNER”; -ANDThe CAMONOAN ARC FARMERS ASSOCIATION, a farmers organization duly registered with the Department of Labor and Employment with principal address at Brgy. Camonoan, Dagami, Leyte, represented by its Chairman, RUTH M. BORJA hereinafter called the “USUFRUCTUARY”;

WITNESSETH:

That the OWNER holds the title in fee simple to a certain parcel of land consisting of an area of____________________________________square meters, together with all improvements thereon situated at Brgy. Camonoan, Dagami, Leyte, Philippines, covered by TCT No./TD No. and more particularly described as follows:

That for and in consideration of a desire to contribute a share for a cause of improving the lives of the farmers in the community, which the USUFRUCTUARY inspires in the OWNER, and as an act of generosity and liberality, the OWNER hereby voluntarily and freely transfers and coveys, by way of USUFRUCT to the USUFRUCTUARY all the rights, title and interest which said OWNER has in the above described real property, together with all improvements found therein, free from all liens, encumbrances and charges whatsoever.

That the OWNER hereby warrants for the purpose of giving full effect and validity to the usufruct, that the OWNER has the legal right to make this Contract of Usufruct of said property being to free portion under the new Civil Code and other existing laws which he can freely dispose of.

That the USUFRUCTUARY hereby accepts this Contract of Usufruct and has taken legal possession of the property and hereby expresses his appreciation and gratefulness for the kindness and generosity of the OWNER.

THE USUFRUCT IS ACCEPTED: Camonoan ARC Farmers Association Represented by:

RUTH M. BORJA CARCFA Chairman

ACKNOWLEDGEMENT Republic of the Philippines) Province of ____________ ) S.S. Municipality of _________ )

BEFORE ME, a Notary Public for and the Province/City/Municipality of _______________ this ______ day of _________________, 2017, personally came and appeared _________________________________, with ID No. ___________________ issued on _____________________ at _________________________ and to me and known to be the same person who executed the foregoing instrument and acknowledge before me that the same as their free and voluntary act and deed. WITNESS MY HAND AND NOTARIAL SEAL, this ________ day of _______________________, 2017.

NOTARY PUBLIC